This work instruction contains the following sections:
To detail the process used to draw down funds for federal Letter of Credit (LOC) capable agency/orgs. LOC List gives you a list of agencies, their URL links and the frequency to draw for each agency.
• CBAL and At-Risk reports
• Log in access to the Sponsors payment system
You will need the At-Risk report see "CBAL and At Risk Reports Job Aid", the current daily CBAL see "CBAL and At Risk Reports Job Aid", the LOC agency folders, and any Final LOC Draw requests. See Final LOC Draw Job Aid. A PDF copy and an EXCEL worksheet copy of each report is required for each agency you are drawing for. Process each agency/division separately with the following exceptions:
• HHS – all divisions
• NSF – all divisions
• USDA & USDA CREES, USDA Forest Service, and USDA Agriculture Research Service (ARS) accounts are each drawn separately.
• STATE – DOS and STATE Bureau of Democracy, Human Rights and Labor (DRL) are each drawn separately .
1. Access ACCTG folder in Share Point >CASHMGT-CMT>CMT Current>LOC-CMT>LOC Agencies then choose the LOC folder of the agency you are drawing for.
1.1. Inside the Agency folder, create a new folder and label it with today’s date, i.e. “070111”.
1.2. Inside this new folder, save a copy of the At-Risk and CBAL documents (.pdf and .xls). Label At-Risk .pdf "At-Risk Agency Name current date" and CBAL .xls "Agency Name and current date". NOTE: You CANNOT draw funds for any account in Pre Award status.
1.3. Open the EXCEL worksheet, label Agency Name and date.DO NOT make any changes in this spreadsheet.
1.4. Create new tab labeled "Worksheet".
1.5. Copy all of the information from the tab labeled CBAL Agency Name and paste into new tab labeled "Worksheet". See “CBAL Formatting Job Aid” for formatting instructions for this worksheet.
1.6. Accounts that are termed >90 days move to below the line.
1.7. If a “termed > 90 days” ASU “LOC Draw” account is associated with an active sponsor award, these will be included in the draw preparation process and funds will either be drawn or returned as deemed necessary by the CMT draw preparer.
1.8. If a “termed > 90 days” ASU “LOC Draw” account requires funds to be drawn and is not associated with an active sponsor award, CMT will continue to wait for a final draw request to be submitted from AMT.
1.9. Use column J to enter the amount you are drawing for an area/org (account).
1.10. Distribute the Adjusted total figure amongst the area/orgs (accounts) within that agency by entering the exact amount of the adjusted cash balance for each account, any final draw requests or special instruction from the AMT GCO. You can use a formula to update this field (=-of the adjacent $ amount). This step is followed for all draw agencies. EXCEPTION: Funds for Regular HHS and Regular NSF (ONLY) are drawn in an aggregate amount and credited to separate holding accounts, to be distributed to sponsored accounts by a JV. See “HHS and NSF Allocation Job Aid”.
1.12. Make sure you are not funding a positive amount.
1.13 Copy the data from the workseet tab to another tab labeled (Draw Amount Pivot), insert pivot table, filter by agreement number and draw amount then save.
2. Open the Account Distribution worksheet. It should be labeled Account Distribution, Agency Name, FY (with a current two-digit FY) (i.e., Account Distribution NASA-Goddard FY11 for fiscal year 2011).
2.1. Copy the Column with the last draw information and paste it in a new column to the right.
2.2. Clear out the previous dollar amounts in the current draw column.
2.3. Change the date to today’s date and increase the Draw # by one.
2.4. Fill in amounts to be drawn next to the area/orgs (accounts) you are funding. In order to do this, complete a Vlookup formula to bring in the $ amounts from the worksheet completed in 1.13 a to this worksheet.
2.5. Total the figures at the bottom of the Account Distribution worksheet current column. Make sure the total to be drawn on the Account Distribution worksheet matches the total to be funded on the worksheet from, 1.13
2.6. Save to pdf, digitally sign and save to current date folder.
1. Give draw folder to CMT GCO for the first review of the draw process and request.
2. During the first review, CMT GCO will ensure:
2.1. The final draw requests are included in the draw amount.
2.2. At-Risk accounts are noted in the list and are not included in the draw total.
2.3. Any account greater than 90 days old are shown “below the line” as termed accounts and are not included in the draw calculation.
2.4 Total draw amount on CBAL matches total draw amount on Account Distribution page.
2.5 Any irregularities have been addressed.
CMT GCO performing the first review must digitally sign pdf copy of CBAL and Account Distribution page indicating the first review and approval of the draw. Reviewer will then initial column labeled "Review CBAL & Account Distribution" in green draw folder. Upon first review, the CMT GCO initiating the federal draw will draw down funds from the appropriate federal draw payment system. Save pdf copy of draw confirmation from the payment system and put it in the LOC folder. Give the folder to a CMT GCO for second review.
3. During the second review, CMT GCO will:
3.1. Verify funds were drawn from correct agency.
3.2. Spot check to verify funds were drawn from correct accounts.
3.3. Verify draw amount on Account Distribution page matches the amount drawn on the confirmation page.
Upon the second review, the CMT GCO will digitally sign the pdf copy of the confirmation page verifying review has taken place. Reviewer will then initial column labeled "Review Confirmation & Account Distribution" in green draw folder.
1. Give green folder to student to type C1 for completed draw.
2. Notify Financial Services Treasury office of all draws over $500,000 by email at email@example.com, with an email copy to firstname.lastname@example.org . This allows Cash Management to track when draws have been received.